"Alternative Investments":Quantitative orientation

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来源: 正保会计网校编辑：小鞠橘桔 2020/12/15 09:43:10　字体：大小

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Questions 1:

One hedge fund strategy that involves simultaneously holding short and long positions in common stock is most likely:

A 、volatility.

B 、distressed/restructuring.

C 、quantitative directional.

Questions 2:

A private equity firm sells a portfolio company to a buyer that is active in the same industry as the portfolio company. This transaction is best described as a(n):

A、 trade sale.

B、 secondary sale.

C 、initial public offering.

View answer resolution

【Answer to question 1】C

【analysis】

C is correct. Quantitative directional is an equity strategy that uses technical analysis to identify over- and underpriced securities, buy the underpriced ones, and short the overpriced ones.

A is incorrect because volatility is a relative value strategy that uses options to profit based on expectations that market volatility will rise or fall.

B is incorrect because distressed/restructuring is an event-driven strategy that focuses primarily on fixed-income securities, although it may buy preferred stock and short common stock of a company.

【Answer to question 2】A

【analysis】

A is correct. A trade sale is the sale of a portfolio company to a strategic buyer, such as a company that is active in the same industry.

B is incorrect. A secondary sale is a sale to another private equity firm.

C is incorrect. An initial public offering involves the sale of shares to public investors.

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